EXCHANGE HACKS.WILL IT EVER END?

[Dudeperfect]

It is recommended again and again by the experienced investors not to hold funds on exchanges unless you want to trade immediately. As far as exchanges are insecure, hackers well keep trying to steal funds. However, we can always hold our funds offline through the user point of view if we care about the security of our funds. It is not a cool idea to expect from hackers not to hack exchanges or from exchanges to keep our funds secure. Bitcoin and other cryptocurrencies give us the freedom of holding our funds with ourselves and that's what decentralisation is all about so we should understand the potential of this technology and use it to the fullest.

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[piebeyb]

this is also the same that mtgox announced since 2014, I always say 2018 is almost similar to the 2014 scenario then, so what is interesting this year the price will only tend to decline until the next year, if you want to look to the moon see after halving happen, need a long time to recover is what is called a 4-year phase

[steampunkz]

In the last couple of weeks,we have seen a lot big exchanges being hacked, funds stolen and everyone thrown into panic.The last one being Bithumb (https://cointelegraph.com/news/bithumb-details-still-sketchy-after-30-mln-hack). Is there really a permanent solution to this nightmare by hackers?

So that's why the price of all the crypto coins is going down again especially bitcoin price. How can they hack such a big exchange with tough security? Is this an inside job again like in nicehash?

[JovhanHermias]

It can be lessen but it will never end, hackers will always find a way just like us to our problems we will always find a way. We just need to be careful in giving private information about our wallet and life, and also be able to know what site to trust.

[eloogu]

We have seen that the exchanges are now working on security aspects and thus incidents will reduce. Still some hacks occur and I think that exchanges might be involved in these.

[jseverson]

Nope. No system is fool-proof. Even banks, who have their online systems set up far longer, and with much higher budgets and stakes than exchanges have are vulnerable to hacking. One could even say that the internet itself is inherently insecure, because at that point you're exposing your system to be accessible by anyone. All they can really do is patch as many holes as they can and keep up with the trends. For exchanges specifically, this means strengthening their inner protocols as much as their external cybersecurity, as most exchange hacks are speculated of being inside jobs.

But yeah, like the others have said, this doesn't mean you should stop using them completely. They're vital to the ecosystem after all. You should just do all you can to minimize the risks that come with getting involved with them.

[pooya87]

In the last couple of weeks,we have seen a lot big exchanges being hacked,

there wast only one exchange hack which was somewhat big but also it was mainly XRP that was stolen not bitcoin. where do you get the rest of them that you call it "a lot"?!!

and no it will never end. just like anything else on the internet, exchanges will be under attack specially since they are handling money and successfully hacking them means a lot of money. it is a never ending war. like viruses, there is a new virus every day and there is a new update to antiviruses to protect against that.

[meanwords]

No man, hackers will always find a way to bypass someone's security. As long as there's a way to create something, there's also a way to destroy it. No matter how good the security, if hackers are professional, they will find a way even if they take a lot of time to do it. There were some cases that there were some inside job where a hacker is part of a team or a staff that handles things in an exchange which give him time and materials to hack an exchange easily. In conclusion, hacking won't stop no matter what.

[FabiAdr76]

Do you believe them these hacker stories?
I don´t know, I have many doubts about that, there are no regulations, no one controls them.
How to know if what they say is true or they did it themselves?

[PsylockReborn]

In the last couple of weeks,we have seen a lot big exchanges being hacked, funds stolen and everyone thrown into panic.The last one being Bithumb (https://cointelegraph.com/news/bithumb-details-still-sketchy-after-30-mln-hack). Is there really a permanent solution to this nightmare by hackers?

As of the moment there's none. As we move forward to the digital era, these hacking incidents will grow exponentially. There are lots people who takes advantage of the vulnerabilities online. Most common factor that leads to these hack incidents are human blunders. Hackers will always find a loophole for them to make money easily. Hope that these people will be put behind bars.

[Shopping Coin Official]

I think this is really hard to control the btc hacking. Need more secure wallet for btc .

[im_not_dazzled]

We have seen that the exchanges are now working on security aspects and thus incidents will reduce. Still some hacks occur and I think that exchanges might be involved in these.

I think it's impossible to stop a group of good hackers from hacking the exchanges if they want it.
Did you see that even the biggest exchange in the world like btc-e got hacked in the past and that costs like hundreds thousands of BTC was hacked .

[Levin23]

the solution is to periodically update the security system and hold a contest for hackers, which can give the weakness of the system will get a reward ..

[baby02]

No chance hackers stop doing hacking that's their way of living, exchangers better do is to hire also some hackers  to protect their business.

[andriw]

my expectation must end soon because the impact will be very influential globally
as is the case now, the fall of bitcoin
each exchange must perform its own testing of the system security and must continue, in order to cope with increasingly massive cyber attacks

[no0dlepunk]

This is way similar to banks who were getting robbed. It won't end my friend... money is the main thang! If robbers are passionate enough with their art, the more these hackers are.

So if you are scared, use hardware ledgers.

[Chrisjay29]

In the last couple of weeks,we have seen a lot big exchanges being hacked, funds stolen and everyone thrown into panic.The last one being Bithumb (https://cointelegraph.com/news/bithumb-details-still-sketchy-after-30-mln-hack). Is there really a permanent solution to this nightmare by hackers?

 i think hacker will never stop hacking. because hacking exchanger is the good way source of income. the only way to avoid hacker is always update the security of thier system make it improve.

[Apened]

In the last couple of weeks,we have seen a lot big exchanges being hacked, funds stolen and everyone thrown into panic.The last one being Bithumb (https://cointelegraph.com/news/bithumb-details-still-sketchy-after-30-mln-hack). Is there really a permanent solution to this nightmare by hackers?

Solution on what in securing your funds or solution in hacking?

The one that can saves you is to keep your money safe in a hardware wallet. Lucky for those stolen that bithumb will cover the amount that has been lost but not everytime it will be covered the lost. Exchange hacks will not end the big money is there and it is the prime target of this hackers especially the low security exchanges. Put how mow much you can afford to lose and always bear in mind to wothdraw your coins or token if you will going to hold it.

[Teawhalee]

Permanent solution is for everyone to safeguard their assets. Dont trust any exchange by keeping your coins on their website. No exchange is above hacking. The reality only comes when it happens. Everyone should be warned and not panic about petty things. Give value to what is valuable.

[RNGfight]

I don't think there is any solution.
Because exchanges can only use big data and cold wallets to avoid these hackers' attacks as much as possible.